L&T Finance on Tuesday said it has raised Rs3,238.48 crore through non-convertible debentures.
The wholly owned subsidiary of L&T Finance Holdings said these non-convertible debentures (NCDs) have been rated stable by Icra, CARE and India Ratings.The company raised a total of ?3,238.48 crore worth of subscriptions, which is 6.48 times of the base issue size of ?500 crore.The issue was oversubscribed on the first day of tranche 2 issue on 8 April, it said in a release.
The first tranche of the NCD was oversubscribed on day one 6 March 2019 when the company had raised ?2,228.06 crore, around 4.45 times of the base issue ( ?500 crore).
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